TAX CREDITS: Establishes an income tax credit for taxpayers who claim a dependent under the age of six (OR -$65,200,000 GF RV See Note)

HB 337 establishes a $500 annual income tax credit for Louisiana taxpayers who claim a dependent child under six years old on their state tax return. It directly affects low-income families, limiting eligibility to those with adjusted gross income under $30,000 (single/head of household) or $60,000 (married-joint/qualified surviving spouse). The credit is refundable, meaning taxpayers can receive a cash refund if the credit exceeds their tax liability. This policy change applies to tax years beginning January 1, 2026, and is designed to reduce tax burden for qualifying parents with young children.